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Although it appears there are many ways to provide liquidity (to lenders and borrowers selling and buying) in a free market, by banks and non-bank lenders, there remains the ... http://archives.econ.utah.edu/archives/pkt/1998m12-c/msg00026.htm
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William This is a problem that has often worried me. If banks were to loose their market share to nonbanks, who could not create money, how would agregate demand grow? http://archives.econ.utah.edu/archives/pkt/1998m12-c/msg00013.htm
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